Business, 25.03.2021 21:10 patriciahonsakpa6u5f
During the year, Company performed services for which customers paid or promised to pay $587,000. Of this amount, $552,000 had been collected by year end. Williams paid $340,000 in cash for employee wages and still owed the employees $15,000 at the end of the year for work that they had done. Williams paid interest expense of $3,000 and $195,000 for other service expenses. The income tax rate was 35%, and income taxes had not yet been paid at the end of the year. Williams declared and paid dividends of $20,000. There were no other events that affected cash. Williams had a cash balance of $40,000 at the beginning of the year. What would the company's net income be for the year, based on GAAP
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Russell's is considering purchasing $697,400 of equipment for a four-year project. the equipment falls in the five-year macrs class with annual percentages of .2, .32, .192, .1152, .1152, and .0576 for years 1 to 6, respectively. at the end of the project the equipment can be sold for an estimated $135,000. the required return is 13.2 percent and the tax rate is 23 percent. what is the amount of the aftertax salvage value of the equipment assuming no bonus depreciation is taken
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During the year, Company performed services for which customers paid or promised to pay $587,000. Of...
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